Crypto Market Trades Sideways, Algorand Holds Token Sale And Quadriga Rumours Turn Out To Be True- The Crypto2Cash Chronicle
Today’s most important and interesting crypto news brought to you by the Crypto2Cash team.
Crypto Market Trades Sideways
After breaking the longest ever daily winning streak on Tuesday, the price of Bitcoin remained fairly unchanged in the last 24 hours. The largest cryptocurrency saw a small gain of 0.85% and is currently trading at $9258.73. Most Alt-Coins saw smaller losses between 0.5 and 2 percent, with Cardano being the biggest looser among the larger currencies, loosing 3.50% on the day.
Algorand Holds Token Sale
The Algorand Foundation held a token sale for their new native Argo token. The tokens were sold on Coinlist for $2.40 per token and all 25 million tokens were sold within just 5 hours, raising a total of $60 million. The Algorand mainnet, which also launched yesterday, claims to handle 1000 transactions per second, with a latency of five seconds, statistics quite similar to global payment networks like Visa or Master card. The Blockchain will run on a pure Proof-of-Stake algorithm. The Foundation claims, that the total market capitalization will lie around $6 billion, which would mean that Argo would rank in the top 10 currencies, however this estimation seems fairly unlikely.
Quadriga Rumours Turn Out To Be True
A new report by Ernest and Young, court monitor of Canadian crypto exchange QuadrigaCX, has shown, that the deceased founder used user deposits for his own margin trading. The report further showed, that the exchange lacked all types of administration and that the founder bedazzled customers for years, loosing millions. Ernest and Young suspects, that some funds are still sitting on other crypto exchanges, however due to the lack of administration, they remain almost untraceable. It is estimated that Gerald Cotten, the founder of the exchange stole 9,450 Bitcoin(BTC), 387,738 Ether (ETH) and 239,020 Litecoin (LTC) between 2016 and 2018, coins that would be worth over $1 billion today.
Get to know our team
Give us a call on +31 85 2250 510 or email us at support@crypto2cash.com. Our members of staff are available between 9.00–18.00 CET to answer any questions you may have, especially in regards to easily selling your crypto for fiat currencies.
